Carbon leakage provides an efficiency argument for unilateral climate policy to differentiate emission prices in favor of emission-intensive and trade-exposed sectors. At the same time, differential emission pricing can be (mis-)used as a beggar-thy-neighbor policy to exploit terms of trade....

The Computable General Equilibrium model, based on the Global Trade Analysis Project (GTAP) model, is used to evaluate the impact of separate bilateral free trade agreements by Colombia, Ecuador and Peru with the United States of America (USA). As the Andean Trade Promotion and Drug Eradication...

The economic crisis has resulted in the shedding of labour characterised by significant differences across the Spanish regions, among which the case of Andalusia stands out. This paper aims to explain the events that occurred between 2005 and 2010, focusing on analysing the region's productive...

The economic downturn has strongly impacted the Spanish labour market, resulting in the shedding of labour with significant differences across regions. Among them, the region of Andalusia is one of the most striking cases. Since the beginning of the crisis, the regional economy exhibited more...

The number and magnitude of devastating natural and human events make it imperative that we actively and systematically estimate the costs and benefits of policy decisions in affected localities, regions, states, and nations. Such strategic risk management preparedness efforts should forecast...

Firms subject to cost-of-service regulation cannot withhold windfall profits associated with free emissions allowances. This paper examines the efficiency and distributional impacts of two approaches to transfer free allowances to consumers: output subsidies and lump-sum payments. We employ an...

In the midst of concerns about U.S. energy security and climate change, a wider use of biomass and biofuels is promoted as one of the recipes for sustainability. The production and use of biofuels in the United States has rapidly increased in the last several years, promoted by a variety of...

This paper uses a GVC (Global Value Chain)-based CGE model to assess the impact of TTIP between the U.S. and the EU on their main trading partners who are mainly engaged at the low end in the division system of global value chains, such as BRICS countries. The simulation results indicate that in...

We study the effect of tax policy on stock market returns in the United States, Germany, and the United Kingdom using GARCH models and a unique daily dataset of legislative tax changes during the period 1 December 1978 to 31 January 2018. We find that days of discretionary tax legislation during...